Inventory Management: We Can Do Better

Supply Chain Shaman

Downsizing inventories over the past decade crippled the response.” In Table 1, I share research collected for the Supply Chains to Admire analysis on the average days of inventory by industry across the period of 2004 to 2019 by increments to match economic shifts.

Gaining Clarity on Inventory Effectiveness

Supply Chain Shaman

The impact of complexity on inventory is not quick. To help, today I want to share some of the insights from our recent Inventory Optimization study. Inventory management is a hot issue. Companies invest in project after project, yet inventory levels remain the same.

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The Inventory Accuracy “Confidence Gap”

Talking Logistics

The research focused on the inventory visibility and optimization challenges that companies face today related to omni-channel fulfillment and the actions they should take to elevate their omni-channel performance. And it begins with improving their inventory accuracy.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.”

Five Suggestions for Practical Inventory Management

Logility

The real problem, however, was inventory. The client had a warehouse full of old stock that had been sitting unwanted for years , and there wasn’t enough room to accommodate the inventory that they were selling. . What is the right inventory level for your business? .

Design, Operating and Situational Inventory Trade-Offs

ToolsGroup

Gartner analyst Paul Lord has developed a framework to better understand inventory trade-offs by categorizing those decisions according to the objectives they are meant to achieve: structural, operational and situational. or “How can we reduce inventory and improve our balance sheet?”.

Inventory Obsolescence: It Can Get Complicated

ToolsGroup

The knack in today’s innovation economy is to understand how the value of a particular SKU deteriorates or its costs increase so that profit erosion can be factored into inventory optimization calculations. But correctly modeling inventory obsolescence is important.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Spinnaker Management Group asked me to co-present on a demand-driven webinar with SanDisk. Instead, in the SanDisk journey , they adjusted the speed of response to their customer segments, and actively designing inventory postponement strategies.

Five Types of Inventory Optimization You Should Know

ToolsGroup

Inventory configuration is usually the predominant issue in most manufacturing environments. Inventory policy is usually the predominant issue in most distribution environments. This risk pooling approach frequently requires less inventory.

Speed up your eCommerce Business with Inventory Management Software

Vinculum

Inventory management plays a vital role in building a sustainable, scalable and profitable eCommerce business. Thus, inventory Management Software is really an essential tool for your business to gear itself up. What is Inventory Management System?

Practicing Social Distancing while Keeping Inventory Moving during COVID-19 pandemic

PINC

While social distancing rules, shutdowns, and high demand for certain product groups are top-of-mind right now, employee and driver safety should also be factored into an organization’s overall pandemic response. live/drop, type of inventory, type of equipment, load status, etc.).

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions.

Are you getting the most out of your inventory management process?

Kinaxis

by Andrew Dunbar Inventory is often the single largest asset on a company’s balance sheet and your inventory management process can have a huge impact on your organization’s bottom line. Finance and business management will prioritize inventory reduction to increase profitability.

Vendor Managed Inventory Model for Supply Chain Cost Reductions

Cerasis

Below I will outline how a vendor managed inventory model, in conjunction with reverse marketing, value analysis, and collaboration will achieve supply chain cost reductions. Vendor Managed Inventory Model for Supply Chain Cost Reductions. The distributor maintains the inventory plan.

The Benefits of Evolved Vendor Managed Inventory Model Led by Web-Based VMI

Cerasis

So why do we feature content related to Vendor Managed Inventory? In a VMI model, part of the equation is the inbound & outbound flow of the inventory. Inventory is then put on pallets and shipped as freight. ” Vendor Managed Inventory Model: A Quick Back Story.

Group Purchasing Organizations: More Than a Healthcare Opportunity

AFFLINK

Historically, group purchasing organizations (GPOs) have been primarily utilized within the healthcare industry. A GPO is a group of businesses or organizations that come together to use their collective purchasing power to receive discounts from vendors.

Broman Group Chooses RELEX to Automate its Replenishment Processes

RELEX Solutions

Broman Group , a Finnish automotive spare parts and accessories company, has chosen RELEX to improve its supply chain processes. Broman Group chose RELEX to reduce the amount of manual work around ordering. Broman Group was founded in 1965. Read PDF.

How You Can Optimise Your Inventory to Save Money

Unleashed

The phrase ‘flushing money down the drain’ can feel like a reality if your inventory isn’t managed properly. Managing inventory can be daunting, but the feeling of losing money because of inventory can be even worse. It’s time to pay attention to what’s going on in your warehouse and make your inventory save money for you. Let’s see what inventory management techniques can help put a few more dollars back into your accounts.

S&OP: An Interview with Nari Viswanathan, Aberdeen Group

Logility

In case you missed it, I recently spoke with Aberdeen Group’s Nari Viswanathan about the change in S&OP strategy. With better and timelier information, you can more tightly manage your inventory.

Groups 130

Why Inventory Revaluation Is Your Next Important Task

Unleashed

All product-based businesses need to track the value of their inventory – and this goes double in a period of dramatic upheaval. The value of your inventory has likely changed thanks to the Covid-19 crisis, and you should consider revaluing it before you make any major business decisions.

ABC Analysis of Inventory: Optimize Business Bottom Line

OptiProERP

The most common concern supply chain management experts struggle with is accurately identifying the causes of inventory inconsistencies. If a discrepancy is identified when users pick an item or perform a count, an inventory correction needs to be performed. Categorizing your inventory.

Inventory Management Techniques That You Need to Know About

EMERGE App

Not Another List of Inventory Management Techniques. I want to start by saying that this is not an exhaustive list of all the possible inventory management techniques available for all industries. What Should You Care About Inventory Management?

Is your inventory manager a firefighter or an air traffic controller?

Kinaxis

by Andrew Dunbar This is the second blog in my series on Inventory Management. You can find the first one ‘ Are you getting the most out of your inventory management process? Managing inventory can be a challenging job! Inventory managers have to balance multiple conflicting priorities, support multiple internal and external customers, and are typically responsible for millions of dollars spread across multiple sites. Who manages inventory at your company?

Case Musti Group: Thriving in a Complex, Multinational, Supply Chain Environment

RELEX Solutions

Case Musti Group: Thriving in a Complex, Multinational, Supply Chain Environment. Musti Group at a Glance. Company name Musti Group Nordic Oy. – Matti Salmi, Purchasing Director, Musti Group Nordic. Store Service Manager, Musti Group Nordic.

Winning the Inventory Battle in the Consumer Products Industry

Logility

From a supply chain standpoint the battle for new product profitability relies largely on two key capabilities, developing accurate new product forecasts and optimizing new product inventory. reduction in finished goods inventory (days). Capability 2: Optimize New Product Inventory.

Supply Chain Agenda of Alessandro de Luca, SVP at Merck Group

Supply Chain Movement

Alessandro de Luca, Senior Vice President, Head of Global Supply Network Operations at Merck Group. I am responsible for the end-to-end global supply chain for Merck Serono, the group’s pharmaceutical division. ‘Real-time communication in order to be able to react fast is key’.

Groups 104

Port Logistics Group acquires e-commerce tech firm Whiplash

EFT

Port Logistics Group , an omnichannel logistics services provider, has acquired Whiplash Merchandising, Inc. The move comes just over a year after Port Logistics Group took an ownership interest in Whiplash: since February 2018, Port Logistics Group has fulfilled more than 1.5 This brings Port Logistics Group’s warehouse space up to 6.3 Port Logistics Group is investing in the technology and software to further drive innovation.

What’s new in the automotive supply chain? (Hint: Inventory Replenishment Policies)

The Network Effect

Today I want to explore how automobile suppliers are improving their operations via inventory replenishment policies. Effective inventory replenishment policies in use today include the 830/862 converted to a delivery release, KanBan, Min/Max, and Sequencing.

Inventory Reduction: The Path to Supply Chain Management

LeanCor

Inventory Reduction: The Path to Supply Chain Management. Inventory is not only a critical part of supply chain management; too often it is the main cause of a painfully incremental progression toward effective and genuine supply chain management. This inventory builds.

Merchants Market Group Implements Blue Ridge Supply Chain Planning Technology

Blue Ridge

Enables leading Caribbean food service distributor to accurately forecast seasonal demand patterns and precisely align inventory levels at every distribution center. Blue Ridge leadership believes the team at Merchants Market Group is poised for greater success. “We’re

HCL Tech signs global alliance agreement with JDA Software Group

Supply Chain Network

From IIFL: “HCL Technologies, a leading global IT services provider, announced today that it has signed a global alliance agreement with the JDA Software Group, Inc, leader in supply chain management. The alliance addresses the unique supply chain challenges for business in the areas like planning, procurement, production, distribution, warehousing, inventory, transportation and customer services.

Three Rules of Inventory

Logility

Bryan Ball, vice president and principal analyst, supply chain management, Aberdeen Group, has outlined three rules to follow in his latest report, “ Inventory Optimization - Impact of a Multi-Echelon Approach.”

Three Rules of Inventory

Logility

Bryan Ball, vice president and principal analyst, supply chain management, Aberdeen Group, has outlined three rules to follow in his latest report, “ Inventory Optimization - Impact of a Multi-Echelon Approach.”

The 3 Guiding Factors For Decision Rules To Greater Inventory Control

Unleashed

Implementing an effective inventory control and planning solution or system is only the first step in optimising your inventory management. Another vital component of this process is the set of rules you establish to speed up inventory control and make it more effective.

How Inventory Management is a problem the size of Australia

The Network Effect

Inventory distortion costs retailers nearly $158 for every man, woman, and child on the planet. Billion a year is the cost of Inventory distortion in North America, an amount equivalent to the annual revenues of Kroger, Home Depot, and Target combined. chem7/Flickr.

Retail Inventory Shrinkage Remains a Problem

Enterra Insights

For the last few years, inventory shrinkage has annually cost U.S. ” Regardless of how inventory is lost, shrinkage costs retailers a lot of money. To reduce shrinkage, retailers need to have a strategy to address each of the ways inventory can be lost. Inventory shrinkage strategies. Addressing inventory shrinkage begins with inventory management. Trujillo explains, “Take the plunge and invest in an inventory management system.

PCI Case Study: Hybrent’s Solution Revolutionizes Reporting & Streamlines Operations for One of the Largest Multi-Specialty Physician Groups in Iowa

Hybrent

Physicians’ Clinic of Iowa (PCI) is one of the largest private, multispecialty physician groups in Iowa, with locations in Cedar Rapids and Waterloo. He found that the lack of information and visibility also frustrated the PCI employees who were responsible for placing orders, interacting with vendors, and managing inventories for the various departments within PCI. This has given PCI users the confidence to reduce inventories closer to real time fulfillment. SITUATION.